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Summary: Kazkommertsbank (JSC)
Standard & Poors, May 2006
The ratings on Kazakhstan-based Kazkommertsbank (JSC) (KKB) reflect the rapid loan growth and significant concentrations in lending and funding in a high-risk economic and banking environment. Furthermore, fast loan growth has pressurized capitalization, which needs to be addressed soon. KKB has been using Kazakhstan's improved economic prospects to its advantage, attracting primary funds and international debt to fund its growing profitable lending business. The European Bank for Reconstruction and Development's (EBRD; AAA/Stable/A-1+) decision to invest into KKB's equity has improved KKB's corporate governance. The ratings benefit from a one-notch uplift from expected government support in the event of a financial or systemic crisis, as we perceive KKB to be a systemically important bank. Despite being the leading bank in Kazakhstan,...
Companies mentioned in this report are: Kazkommertsbank (JSC)
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.